Analysis: The President’s FY 2019 Budget Fails to Put Us on Responsible Fiscal Path
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
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The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
CBO finds that the budget would not reach balance in 2027 as the administration projects.
https://www.pgpf.org/analysis/2017/07/cbo-debt-remains-high-under-presidents-budget
The long-term budget outlook has deteriorated significantly since last year, when CBO projected debt would reach 111% of GDP in 30 years under current law.
https://www.pgpf.org/analysis/2016/07/cbo-long-term-budget-outlook-worse-than-last-year
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
https://www.pgpf.org/analysis/census-bureau-report-on-poverty-and-health-insurance-coverage
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
The United States, by far, spends the greatest amount on military (in nominal terms) than any other country.
https://www.pgpf.org/analysis/why-defense-matters-for-deficit-reduction
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
Although the President's budget would make progress by reducing deficits and stabilizing the debt over the next ten years, federal debt would remain high by historical standards.
https://www.pgpf.org/analysis/summary-of-cbos-analysis-of-the-presidents-budget-for-fiscal-year-2014
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
Lawmakers should use the opportunities presented by the annual budgetary process to set policy priorities and provide more certainty about our nation’s fiscal policy.